The emergence of high frequency trading has resulted in ‘bursts’ of orders arriving at an exchange (nearly) simultaneously, yet most electronic financial exchanges im- plement the continuous limit order book which requires processing of orders serially. Contrary to an assumption that appears...

This study explores the micro-level of making economic decisions, focusing on processes and causal relationships using which individuals (agents) take into account each other’s activities. A central concept employed herein is the Shared Mental Model (SMM) used by participants of joint activity...

Despite blockchain based digital assets trading since 2009, there has been a functional gap between (1) on-chain transactions and (2) trust based centralized exchanges. This is now bridged with the success of Uniswap, a decentralized exchange. Uniswap's constant product automated market maker...

In 2014, Washington State used a lottery system to allocate licenses to firms in the newly legalized retail cannabis industry, generating random variation in how many stores entrepreneurs were able to own. We observe highly detailed data on all subsequent industry transactions, including prices,...

The recent activity in pension buyouts and bespoke longevity swaps suggests that a significant process of aggregation of longevity exposures is under way, led by major investment banks and buyout firms with the support of leading reinsurers. As regulatory capital charges and limited reinsurance...

Italian policies to stimulate power production have been a success in the sense that solar power capacity has exploded, but they have also led to formidable costs. What is more, argues Carlo Stagnaro of the Italian think tank Istituto Bruno Leoni, support for green power has profoundly distorted...

The paper examines the structure and functioning of the food market in Uganda and the role of the past reforms on food security; the trend in food production and consumption; market linkages; seasonality as well as recurrent crisis (shocks) that have affected the market. While at aggregate...

The paper examines the structure and functioning of the food market in Uganda and the role of the past reforms on food security; the trend in food production and consumption; market linkages; seasonality as well as recurrent crisis (shocks) that have affected the market. While at aggregate...

This paper examines the relationship between ethics and market design. It argues that market design should not rely wholly on preference utilitarianism in order to make ethical judgements. It exposits an alternative normative framework—informed neutrality between reasonable ethical positions.

In this paper, we show that the pricing of sun and beach vacations in its most common form – three star hotels situated on the Baleares islands – follows the same guidelines as many currently consumed goods and services. Mature foreign markets in which there are no clear leaders tend to show...